/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
CANONSBURG, PA, April 18, 2016 /CNW/ - Corsa Coal Corp.
(TSXV:CSO) ("Corsa" or the "Company") is
pleased to announce that it has appointed Paradigm Capital Inc.
(the "Agent") to sell, by way of a private placement on a
best efforts basis, common shares (the "Common
Shares") of the Company at a price to be determined in the
context of the market for gross proceeds of up to $10,000,000 (the "Offering"). All
references herein to "$" are to Canadian dollars.
The closing of the Offering is expected to occur on or about
such date or dates as agreed upon by the Company and the Agent and
is subject to receipt of all necessary regulatory approvals,
including approval of the TSX Venture Exchange (the "TSXV"). The
Common Shares issued with respect to the Offering will be subject
to a four month hold period in accordance with applicable Canadian
securities laws.
This news release does not constitute an offer of securities for
sale in the United States. The
securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within
the United States absent U.S.
registration or an applicable exemption from U.S. registration
requirements.
About Corsa Coal
Corsa is one of the leading suppliers of premium quality
metallurgical coal, an essential ingredient in the production of
steel, which is necessary for the secular trends in global
utilization. Our core business is supplying metallurgical coal with
the highest safety, yield, and strength characteristics to domestic
steel producers while being a strategic source of supply in the
Atlantic and Pacific basin markets. Corsa also offers high heat
content, low delivered cost coal to major utilities and industrial
users in the Southeast region of the U.S.
Cautionary Note Regarding Forward-looking Statements
This press release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws, including statements with respect to closing of
the Offering and the proposed use of proceeds thereof
(collectively, "forward looking statements"), and which are based
on the expectations, estimates and projections of management of
Corsa as of the date of this press release unless otherwise stated.
Forward-looking statements are statements and information regarding
possible events, conditions or results of operations that are based
upon assumptions about future economic conditions and courses of
action. Some of the forward-looking statements may be identified by
words such as "expects", "anticipates", "believes", "plans",
"projections", "outlook", "intends", "may", "could", "would",
"might", "will" and similar expressions. More particular and
without limitation, this press release contains forward-looking
statements and information concerning the use of proceeds from the
Offering. By their very nature, forward looking statements involve
numerous assumptions, inherent risks and uncertainties, both
general and specific, and the risk that predictions and other
forward looking statements will not prove to be accurate. Do not
unduly rely on forward looking statements, as a number of important
factors, many of which are beyond Corsa's control, could cause
actual results to differ materially from the estimates and
intentions expressed in such forward looking statements. Forward
looking statements speak only as of the date those statements are
made. Except as required by applicable law, Corsa does not assume
any obligation to update, or to publicly announce the results of
any change to, any forward looking statement contained herein to
reflect actual results, future events or developments, changes in
assumptions or changes in other factors affecting the forward
looking statements.
The TSXV has in no way passed on the merits of this news
release. Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Corsa Coal Corp.